ECONOMY

Jul 10 13:41

Gold's 2014 Half-Time Report

Jul 10 13:30

Events in southeast leave Ukraine’s budget $213 mln short for June

Ukraine’s Ministry of Revenue and Duties collected 75.8 billion hryvnia (6.4 billion U.S. dollars) in the first six months of 2014 and this is one percent less than planned, Chairman of the State Fiscal Service Igor Belous told reporters on Thursday.

Jul 10 13:05

EPA claims it has the power to garnish wages without court approval

The Environmental Protection Agency has quietly claimed that it has the authority to unilaterally garnish the wages of individuals who have been accused of violating its rules.

According to The Washington Times, the agency announced the plan to enhance its purview last week in a notice in the Federal Register. The notice claimed that federal law allows the EPA to "garnish non-Federal wages to collect delinquent non-tax debts owed the United States without first obtaining a court order."

Jul 10 13:03

Filter On The Roof!

Following the IDF difficulties in defeating Hamas’s ballistic warfare, the Israeli Government is now urgently searching for contractors with some advanced experience in large scale reinforced concrete constructions. The mission ahead is the building of a solid concrete roof over the entire Jewish State. PM Netanyahu is determined that the only way to defend Israel’s populated area is to cover the Jewish State with a thick layer of iron and cement.

Jul 10 12:41

Washington’s Arrogance Will Destroy Its Empire — Paul Craig Roberts

Washington reeks of the stench of evil

Paul Craig Roberts

Alone among the governments in the world, Washington requires sovereign governments to follow Washington’s laws even when Washington’s laws contradict the laws of sovereign countries. Washington issues ultimatums to sovereign nations to do as they are told or “be bombed into the stone age.”

Washington violates diplomatic immunity and forces down the planes of presidents of sovereign countries to be illegally searched.

Washington ordered its UK vassal to violate the laws and conventions governing political asylum and to refuse free passage to Julian Assange to Ecuador.

Washington ordered Russia to violate its laws and to hand over Edward Snowden.

Russia is strong enough to refuse to comply with Washington’s orders.

Jul 10 12:20

Game Changing Major End The Fed Rally Planned in Europe

In this video Luke Rudkowski talks to Lars Maehrholz during his layover in Berlin about the merger of 128 cities and 5 countries that will come together on July 19th to do a mass protest against the U.S Federal Reserve in Berlin Germany.

Jul 10 12:06

Q2 GDP Hopes Fade As Wholesale Inventories Miss By Most In 2014

Another day, another uncomfortable fact about Q2 not being the epic bounce back that so many had promised. Wholesale Inventories rose only 0.5% in May - following April's +1.1%. This is the slowest growth in 2014 and biggest miss of expectations since Dec 2013. Wholesale sales also fel back, missing expectations at +0.7%, to the slowest since Feb as April hopes fade. Cue, Q2 GDP downgrades in 3...2...1...

Jul 10 11:26

Will Fundamentals Ever Matter Again?

Jul 10 09:37

“Unsustainable Real Estate Bubble Is Inflating,” Mortgage Bankers tell FICO

Observations about a housing bubble being once again inflated in many areas in the US have transitioned from bloggers throwing around unpleasant party-pooper data to mortgage bankers.

Jul 10 09:36

The World’s Next Oil Shipping Corridor: The Arctic Ocean

It’s colder than the Persian Gulf, needs more icebreakers than the Suez Canal and passes less picturesque beaches than the Mediterranean, but the so-called Northern Sea route connecting Europe to Asia via the northern coast of Russia has its advantages.

It’s a shorter and quicker route, and thus more energy efficient. And it avoids many of the geopolitical flash points that make shipping risky–instead of the Strait of Malacca, the Horn of Africa and Egypt’s Suez region, boats can hug the coat of Russia for a chilly but uneventful ride.

Jul 10 09:33

Russia to suggest forming energy association, fuel bank at BRICS summit

Russia will suggest setting up an energy association and a reserve fuel bank during the BRICS summit that takes place in Brazil July 15-16, Yury Uskakov, a Russian presidential aide, told reporters.

“Russia intends to suggest several specific subjects for consideration, namely the formation of a BRICS energy association to ensure the energy security of BRICS members,” Ushakov said ahead of President Vladimir Putin’s visit to Brazil.

Webmaster's Commentary: 

Russia is very smart to be making this move right now, while the whole Middle East is in deep turmoil; energy independence and energy efficiency are definitely two critical components in keeping countries' economies moving forward.

Jul 10 09:29

Germany clears path for EU to directly fund ailing banks

he EU’s bailout fund has moved closer to being able to directly pump money into troubled banks after the German government introduced a bill allowing direct bank recapitalisation.

The German government has introduced a bill allowing the EU’s bailout fund to directly fund struggling banks

The draft law will now require approval in the Bundestag, but is planned to enter into force in November.

“This is an important step to stabilise our financial sector … and to increase further the trust in our common European currency,” said finance minister Wolfgang Schaeuble on Wednesday (9 July).

He added that the law would help “rule out the risk that the taxpayer would have to accept liability, as in the financial crisis”.

Webmaster's Commentary: 

The question has to be asked: how many EU banks are in deep financial trouble, and by how much?!?

Jul 10 09:18

Muni Fund Collapses To Record Lows As Puerto Rico Risk Rises

Quietly behind the scenes and away from the exuberant stock market trading headlines of the mainstream media, Muni bond markets are in turmoil. Thanks to the 'shenanigans' in Puerto Rico - after lawmakers last month approved a bill allowing some public corporations to restructure debt - PR bonds have collapsed to record lows (and dragged a number of large Muni funds with them).

Jul 10 09:00

US Government Gives $100 BILLION in Improper Payments Every Year

In news that probably won't surprise anyone, the government has revealed that it makes roughly $100 billion in improper payments to people who may not be entitled to them - every YEAR.

The improper payments came in the forms of tax credits to families that didn't qualify, unemployment benefits to people who had jobs and medical payments for treatments that might not have been necessary.

In 2013, improper payments totaled approximately $106 billion - and experts say that figure could actually be higher. Rep. John Mica, R-Fla, chairs the House Oversight subcommittee on government operations. He told the AP the amounts are "staggering".

Jul 10 08:52

Petition: Let’s Put Up “Unaccompanied” Illegals at White House

In response to inaction by the Obama administration and the federal government to confront the tidal wave of illegal immigrants streaming over the border into Texas, Alex Jones and Infowars have posted a petition on the “We the People” page at the White House.

We demand Obama and Congress take responsibility for the unprecedented influx of so-called “unaccompanied minors” streaming across the border. Specifically, since there is no practical way at this point to prevent thousands of people daily from illegally crossing into the United States – short of militarizing the southern border – we demand Obama and Congress house the immigrants in Washington DC.

Jul 10 08:37

The Almighty Dollar Is In Peril As The Global ‘De-Dollarization’ Trend Accelerates

As the Obama administration continues to alienate almost everyone else around the entire planet, an increasing number of prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant in global trade.

In previous articles, I have discussed Russia’s “de-dollarization strategy” and the fact that Gazprom is now asking their large customers to start paying in currencies other than the dollar. But this is not just a story about Russia any longer. As you will read about below, China and South Korea have just signed a major agreement to facilitate trade with one another using their own national currencies, and even prominent French officials are now talking about the need to use the dollar less and the euro more.

Jul 10 07:47

Germany Blesses “Bail-In” Deposit Confiscation Plan For Failing EU Banks

One year earlier than required, the German government approved plans to force creditors into propping up struggling banks across Europe. As WSJ reports, Germany “leads the way” in Europe by implementing European rules quickly and “creates instruments that allow the winding-down of big systemically relevant institutions without putting the financial stability at risk.” What this means is that taxpayers (theoretically) will not be on the hook (though in reality we are sure the mutually assured destruction defense will be played – especially if Deutsche runs into problems) but as German authorities explain, “This ensures that in times of crisis mainly owners and creditors will contribute to solving the crisis, and not taxpayers.” As a gentle reminder – creditors includes depositors… remember Cyprus?

Webmaster's Commentary: 

"Hey, if the FED can take our gold, then the banks can take your savings accounts! Fair is fair!!"

Jul 10 07:13

IPO Hype-Miracle Gets Crushed by Reality

Jul 10 06:27

Breaking News: Federal Judge Rules Against MERS

"...MERS, violated Pennsylvania law by using its members-only database to circumvent county recorder of deeds offices."

"As a result, Joyner ruled, counties lost millions of dollars in fees, the accuracy of public records was compromised, and home loans were sold time and again without the knowledge of homeowners or county recorders."

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"We took all the MERS mortgages between 2004 and 2011 and then multiplied them by two, assuming they were sold once," Becker said. "But other recorders in other states ... have found most of these mortgages were sold 10 to 12 times."

Jul 10 06:26

Americans Have Spent Enough Money On A Broken Plane To Buy Every Homeless Person A Mansion

Just days before its international debut at an airshow in the United Kingdom, the entire fleet of the Pentagon’s next generation fighter plane — known as the F-35 II Lightning, or the Joint Strike Fighter — has been grounded, highlighting just what a boondoggle the project has been. With the vast amounts spent so far on the aircraft, the United States could have worked wonders, including providing every homeless person in the U.S. a $600,000 home.

Jul 10 05:20

Feeling poorer through the power of inflation: wages are simply not keeping up

You have to love how the Federal Reserve downplays inflation when they are the primary source of it with other central bankers for this monetary phenomenon. They continue to play inflation down because it gives them the power to continue to use policies that seem to only aid their banking allies while making working Americans poorer by the day. Inflation has a slow eroding power that is not readily visible since it usually takes time to work through a system. Looking at a broader timeframe however it becomes readily apparent that inflation is hitting our system hard and most working families don’t need an advanced degree in economics to understand this. According to the CPI, the overall rate of inflation since January of 2000 has been 39 percent. The Fed prefers to use the PCE Deflator measure and this only has inflation running at a 31 percent rate.

Jul 10 04:35

Fed to End Bond Buying in October

Jul 10 04:10

The Federal Reserve Won’t Let Germany Inspect It’s Own Gold

The National Security Agency isn’t the only American organization upsetting some Germans. The US Federal Reserve holds 45 percent of Germany’s gold assets, and a plan to bring much of that back to its homeland is in jeopardy. Efforts to transport or even audit the billions of dollars worth of precious metal held by the US are being impeded by politics and the Fed itself, creating frustration for many of the plans supporters.

Jul 10 03:57

Power grab: EPA wants to GARNISH WAGES of anyone they say is a "polluter"

EPA officials did not respond to repeated questions by The Washington Times about why they thought it was necessary to garnish people’s wages.

Jul 09 20:15

A "Perfect Storm" Could Be Forming Right Here

Jul 09 18:39

Don’t Move. Make the Market Prove (Itself)

Jul 09 18:04

Dollar Collapse Inevitable | John Rubino

Jul 09 16:00

Corporate Tax Behavior So Bad Even Fortune Magazine Can’t Stomach It

These are companies that even a top cheerleader for the corporate class can’t bring itself to defend.

Jul 09 15:56

Germany Blesses "Bail-In" Deposit Confiscation Plan For Failing EU Banks

ear earlier than required, the German government approved plans to force creditors into propping up struggling banks across Europe. As WSJ reports, Germany "leads the way" in Europe by implementing European rules quickly and "creates instruments that allow the winding-down of big systemically relevant institutions without putting the financial stability at risk." What this means is that taxpayers (theoretically) will not be on the hook (though in reality we are sure the mutually assured destruction defense will be played - especially if Deutsche runs into problems) but as German authorities explain, "This ensures that in times of crisis mainly owners and creditors will contribute to solving the crisis, and not taxpayers." As a gentle reminder - creditors includes depositors... remember Cyprus?

Jul 09 15:55

Undisputable Bubble Insanity: No Revenue, No Assets Company Up Over $1 Billion (+110%) Today On 57K Shares Traded

Just 2 days ago we highlighted the best example of the exuberance awash the markets currently - CYNK Technology Corp, the social media development company that had a market capitalization in excess of $1 billion, which according to official filings, had one employee, no website, no revenue, no product, and no assets. Fast forward 2 days - and some 57,000 shares traded (about 0.02% of its total shares outstanding) at around $10 and CYNK now has a market cap approaching $3 billion (and still no revenue, no product, and no assets)... Lord Overstone said it best. “No warning can save people determined to grow suddenly rich.”

Jul 09 15:31

Quayle: Big changes are coming: “We are headed for a crisis… of biblical proportions”

Well known author, commentator and radio host Steve Quayle says big changes are coming to the world

Jul 09 13:02

Exposing the Conspiracy of the Rich

What you don't know about this economy may harm you!

Jul 09 12:51

Shock Report: 70 Million People Would Be Starving in the Streets Without Government Welfare Programs

Amid all the talk of recovery by politicians, economic officials and big business leaders, the fundamental numbers behind all the propaganda tell a starkly different story.

Home sales have dropped to record lows, more people are out of the workforce than anytime in the last 50 years, and cash-strapped consumers have run out of money to fuel economic growth.

Jul 09 11:36

Debunking the $800 Gold Myth

Jul 09 11:31

Think Tank Proposes $3.3 Trillion Tax Hike

America is undertaxed, and the result is underfunding of public investments that would improve our economy and the overall welfare of Americans. Fortunately, Congress has several straightforward policy options to raise revenue, mostly by closing or limiting loopholes and special subsidies imbedded in the tax code that benefit wealthy individuals and profitable businesses.

Webmaster's Commentary: 

BULL BISCUITS! America is taxed to the point of paralysis! This think tank is operating from the mindset that all problems are solved by taking more away from the people, apparently clueless that We The People cannot pay these higher taxes in an age where wages and salaries are being hammered into the ground and 90 million Americans cannot find a job at all!

It must be nice living in a little bubble of fantasy where you make huge bucks for fairy-tale solutions to real-world problems!

Jul 09 10:56

Finance and the Holy See: creating a central bank

The Vatican is setting up a ‘central bank’ as part of an overhaul of its finances.

Webmaster's Commentary: 

Rather odd thing for a church that used to forbid usury!

Jul 09 09:54

Debunking the $800 Gold Myth

Jul 09 09:39

City of Houston Sues Couple for Too Many Garage Sales

Jorge and Maria Ramos have been holding daily garage sales since 2011, making a little money to supplement Jorge’s disability income. He is blind in both eyes. They even have a permit from the state and thought they were doing everything by the book.

Jul 09 09:38

Is The Fed Going To Attempt A Controlled Collapse?

As most Fed watchers know, last week was interesting because Janet Yellen, speaking at IMF came out and said something quite surprising. In a nutshell, she said “It’s not the Fed’s job to pop bubbles”. While many market participants immediately took this to mean, “To the moon, Alice!” and started buying equities hand over fist, there’s another possible explanation for Mrs. Yellen’s proclamation of unwillingness: The Fed could be preparing to do exactly what it said it wouldn’t.

Here’s a quick re-cap of events: In the recently released Annual Report of the BIS: Bank for International Settlements (commonly thought of as the “central bank’s central bank”) the BIS made a rather ominous recommendation to it’s member banks: Pop this bubble now. Their specific language wasn’t quite so direct, but the message was just as clear.

Jul 09 09:13

Why Housing Will Crash Again–But For Different Reasons Than Last Time

Institutionalizing the speculative excesses that inflated the previous housing bubble has fed magical thinking and fostered illusions of phantom wealth and security.

Jul 09 08:19

What Massive Overnight Inflation Looks Like

Jul 09 08:16

How Much Wealth Are Our Wealthiest Hiding?

More than enough, the latest statistical evidence suggests, to warrant a full-fledged federal search. A new banking law in effect this month could start that search in the right direction.

Jul 09 08:10

Is This What A Bursting Bubble Looks Like?

Jul 09 08:02

Impact of IMF SDRs for Commercial Trade

The global corporatist economy works differently from business transactions at your neighborhood convenience store. Ostensibly, the International Monetary Fund was set up to allow the G20 nations to umpire the ground rules to play nice in macro trade. Platitudes about promoting job growth or third world development are the realm of public relations for the central banks. The impact of the IMF on virtually all countries, vividly seen in every crisis whether real or contrived, always has a political objective that underpins the economic functions. As confidence in national currencies falter, the big sugar daddy loves to intervene, provided they pull the strings.

Jul 09 07:44

Big Banks Want Power to Declare Cyber War

Wall Street’s biggest trade group has proposed a government-industry cyber war council to stave off terrorist attacks that could trigger financial panic by temporarily wiping out account balances, according to an internal document.

The proposal by the Securities Industry and Financial Markets Association, known as Sifma, calls for a committee of executives and deputy-level representatives from at least eight U.S. agencies including the Treasury Department, the National Security Agency and the Department of Homeland Security, all led by a senior White House official.

The trade association also reveals in the document that Sifma has retained former NSA director Keith Alexander to “facilitate” the joint effort with the government. Alexander, in turn, has brought in Michael Chertoff, the former U.S. Secretary of Homeland Security, and his firm, Chertoff Group.

Webmaster's Commentary: 

More than ever before, please do NOT have any more money in your personal bank account than you absolutely need with which to pay your bills.

This is not only a lousy idea, but also, the charges depositors will ultimately face will be epically nasty. IF these services will cost one million dollars per month, you can bet your sweet bippy that it will not be the banks absorbing those costs at all.

Jul 09 07:28

El-Erian: Fed Is Making An ‘All-In’ Bet

Jul 09 07:20

Say hello to U.S. economy’s newest bubble

Call it irrational exuberance, part two. Like old man river, the stock market just keeps rolling along. Last week it was Dow 17,000. Will this week see the market go even higher?

Before you jump on the bulls’ bandwagon, let me call to your attention a couple of salient statistics. At today’s level, the Dow industrials DJIA +0.10% are up 5% since the beginning of this year. This is on top of a 35% leap in 2013. And in case you are keeping score, the Dow is now a whopping 155% above its low back in March 2009.

All that said, there are a number of warning signs out there that suggest the party may soon be over.

Jul 09 07:18

Portugal's Largest Bank Misses Bond Payment; Bonds Collapse

Brussels, we have a problem. As we warned 6 weeks ago, Espirito Santo International SA - is in a "serious financial condition" according to a central bank driven external audit by KPMG identified "irregularities in its accounts." Sure enough, the 'ponzi-like' maneuvers have left the bank unable to pay its bonds as Bloomberg reports bonds plunged to record lows after a parent company delayed payments on short-term notes.

Jul 09 07:18

The Bears Are Back In Town

Jul 09 06:51

Why Housing Will Crash Again--But For Different Reasons Than Last Time

Institutionalizing the speculative excesses that inflated the previous housing bubble has fed magical thinking and fostered illusions of phantom wealth and security.

Jul 09 06:48

You Know That Things Are Getting Perilous When Even The New York Times Starts Pointing Out Financial Bubbles Everywhere

Is there any doubt that we are living in a bubble economy? At this moment in the United States we are simultaneously experiencing a stock market bubble, a government debt bubble, a corporate bond bubble, a bubble in San Francisco real estate, a farmland bubble, aderivatives bubble and a student loan debt bubble. And of course similar things could be said about most of the rest of the planet as well. In fact, the total amount of government debt around the world has risen by about 40 percent just since the last recession. But it is never sustainable when asset prices and debt levels increase much faster than the overall level of economic growth. History has shown us that all financial bubbles eventually burst. And when these current financial bubbles in America burst, the pain is going to be absolutely enormous.

Jul 09 06:41

One Company Finally Admits: It Wasn't The "Harsh Weather" After All

Yesterday we heard from the CEO of the world's biggest company that the exuberant jobs data did not reflect any economic reality Wal-Mart was seeing. Overnight, William Arthur Tindell, CEO of The Container Store, further destroyed the myth of a 'recovery' stalled by 'weather' and threw the rest of his 'retailer' brethren under the bu:"We thought our sluggish sales were all because of weather and calendar shift...but now we've come to realize it's more than that, consistent with so many of our fellow retailers, we're experiencing a retail funk."

Jul 09 06:41

Portugal's Largest Bank Misses Bond Payment; Bonds Collapse

Of course the government says its "contained" - now where have we heard that before?

Jul 09 06:37

Power grab: EPA wants to garnish wages of polluters

The Environmental Protection Agency has quietly floated a rule claiming authority to bypass the courts and unilaterally garnish paychecks of those accused of violating its rules, a power currently used by agencies such as the Internal Revenue Service.

Jul 09 06:31

Hillary Clinton Has Raised Over $1 Billion From Wall Street

Hillary Clinton’s claim of being “dead broke” offered up easy fodder to Republicans, who swiftly poked fun at a politician who appeared out of touch with regard to her own potential wealth.

Yet what’s really keeping GOPers tossing and turning at night is the powerful political fundraising punch the Clinton brand brings to the table.

Jul 09 06:25

Members of Congress Declare “Immunity” from Insider Trading Probe

U.S. District Court Judge Paul Gardephe ordered the committee last week to explain why it hadn’t responded to the SEC’s year-long request for documents, phone records and the testimony of staff director Brian Sutter, as part of a probe into whether he or other House members leaked private information about health care policy to insurance companies.

Rather than turning over the information, top House lawyer Kerry W. Kircher answered the order by requesting that the case be dismissed.

Jul 09 04:03

HHS Report: Percentage of Americans on Welfare Hits Recorded High

According to the 2014 version of a report that the Department of Health and Human Services is required by law to issue annually, the percentage of Americans on welfare in 2011 was the highest yet calculated. The data for 2011 is the most recent in the report.

Jul 08 23:15

EGYPT RAISING GAS PRICES UP TO 78%

Jul 08 20:17

Banks Face Ultimate Collapse

It can now be reported that, at this hour, there is NO liquidity left in the worldwide financial markets as Chinese banks can no longer guarantee the bad loans which affects all worldwide derivative holdings of criminal banking institutions aka JPMorgan Chase, Bank of America, Royal Bank of Canada, Bank of England, U.S. Citibank as well as NAZI German Deutsche Bank.

Jul 08 19:17

We're paying for Fred the Shred's £500k legal defence: Taxpayers fork out huge sum on disgraced bank boss despite case having not even reached court yet

Taxpayers have forked out almost half a million pounds in legal fees to defend disgraced former Royal Bank of Scotland boss Fred Goodwin, it emerged last night.

Costs of £400,000 have already been racked up by law firms representing four former directors of the bank against a lawsuit brought by its shareholders – even though the case has still not reached court.

If it does, the final bill will run to millions of pounds.

Mr Goodwin’s legal fees are being paid by the bank, despite the fact he draws a £342,500-a-year pension.

Jul 08 18:59

How Much Wealth Are Our Wealthiest Hiding?

Almost everyone knows how Al Capone went down. We’ve seen the movies.

The biggest and baddest gangster in American history extorted and murdered for years. But the feds could never convict him on anything, until the green eyeshade guys went to work. They finally nabbed Capone — on income tax evasion.

Jul 08 17:33

Is margin debt rolling over?

Jul 08 17:08

Video: Everything is AWESOME!

Jul 08 16:45

Richard Russell – This Rolling Crisis Is About To Get Very Ugly

This is a stock market that is not ready for any negativity

Jul 08 16:02

German exports disappoint, imports off sharply in May, adding to expectations of weak quarter

German exports fell more than expected in May while imports dropped sharply, adding to data that point to a weak second quarter for Europe's biggest economy and also pushing up the country's trade surplus.

The Federal Statistical Office said Tuesday that exports were down 1.1 per cent compared with the previous month, a steeper drop than the 0.4 per cent decline economists expected. Imports fell 3.4 per cent.

Jul 08 15:56

Vatican Bank Profits Plunge Following Clean-Up

It seems not even The Pope's private bank can make money when its only allowed to do it the legal way. As The FT reports, profits at the Vatican bank plunged last year after thousands of accounts were closed as part of an overhaul of the scandal-ridden institution. The Vatican bank, officially known as the Institute for Religious Works (IOR), now has 17,419 customers, down from 18,900 in 2012 and net profit fell from EUR86.6m in 2012 to EUR2.9m last year. So - in sum - accounts fell 8% and profits collapsed 97% - is it any wonder Pope Francis plans to replace the board and all the executives at the 'bank'.

Jul 08 15:53

Stock Buyback Shocker: Companies Using Secured Bank Loans To Repurchase Stock

"US lending to businesses is reaching record levels but banks are privately warning that the activity should not be seen as evidence of an economic recovery." And the stunner: "Much of the corporate lending is going to fund payouts to shareholders, finance acquisitions and fuel the domestic energy boom, bankers say, rather than to support companies’ organic growth."

Jul 08 14:56

Turn Around Tuesday Flunk-A-Dunk

Jul 08 14:39

Medical Marijuana User Assaulted by D.C. Cops, Detained for Possession on 'Independence Day'

Daniel Price, a medical marijuana card holder, was in D.C. last week to enjoy Independence Day with friends. As they went through a security checkpoint, a police officer had him put his hands above his head which prompted someone to begin filming the situation. Price was assaulted, searched, and detained. Ain't 'freedom' great? The scrapes on Price's arms and legs can be seen at the end of the video.

Jul 08 14:18

Spain to tax bank deposits

Jul 08 13:59

Big Banks Want Power to Declare Cyber War

Merger of Big Banks and National Security Power … What Could Possibly Go Wrong?

Jul 08 13:55

NEW DATA: White House Gave Female Staffers Smaller Raises.

HERE IS YOUR WAR ON WOMEN !

Jul 08 13:14

Should We Serve the Economy or Should the Economy Serve Us?

Let's talk about the destruction of the American economy – mergers and acquisitions style.

As The New York Times points out, back in 1994, Massachusetts allowed its two most prestigious hospitals – Massachusetts General and Brigham and Women's Hospital – to merge.

Jul 08 13:00

Wall Street Teams Up with U.S. Intelligence Cronies in Bid to Form Fascist “Cyber War Council”

It appears that trillions in taxpayer bailouts simply wasn’t enough for Wall Street.

Jul 08 12:53

ISIL-ISIS and It’s So Called Caliphate: Israeli-US Tools to Divide Iraq

The following GRTV documentary looks at the crisis in Iraq, which is being used to divide Iraq, and examines the support that the US and Israel are providing for the so-called Islamic State of Iraq and the Levant (ISIL) and its so-called self-declared caliphate. The documentary also looks at how the crisis in Iraq is tied to the long war of the US aimed at controlling at Eurasia. It also looks at the past analyses of Michel Chossudovsky and the video’s producer, Mahdi Darius Nazemroaya, about this long war.

Jul 08 12:48

Detroit Urges National Effort to Defeat Banks, Privatization

Activists in Detroit have not been idle in confronting the bank-imposed austerity plaguing the city. Every week there are Freedom Friday demonstrations beginning at the DWSD and spreading out through downtown in order to confront and expose the real criminals behind the crisis.

A press conference organized by the Stop the Theft of Our Pensions Committee (STOPC) took place on July 3 in front of the federal courthouse. City of Detroit retirees from Moratorium NOW! Coalition, STOPC and the Concerned Citizens and Retirees of Detroit spoke out against the proposed plan of adjustment and what they perceived as a rigged voting process that is pressuring retirees to vote yes on cutting their pensions and benefits.

Members of the Moratorium NOW! Coalition have been leafleting at the DWSD payments centers in addition to organizing weekly Freedom Friday demonstrations. On July 2 and 3, hundreds of people were reached through leafleting on both the west and east sides of the city.

Jul 08 12:41

Members of Congress Declare "Immunity" from Insider Trading Probe

House panel refuses to submit to SEC subpeonas

Jul 08 12:30

Why Killing The Ex-Im Bank Is Crucial To The Future Of Capitalism

The surface facts make abundantly clear that the case for the Ex-Im Bank is truly lame. In the most recent year (2013), its credit guarantees and other programs accounted for $37 billion of exports or less than 2% of the $2.2 trillion of exports generated by the US economy. Moreover, by the bank’s own reckoning only about $12 billion of these Ex-Im deals deployed taxpayer subsidies in order to “meet competition from a foreign, officially sponsored export credit agency”.

Jul 08 12:23

Water in California being Auctioned

According to state records, two water districts in California are beginning to auction off their private supplies of water.

Jul 08 12:20

Happy Days are here again…or are they?

Jul 08 12:19

Peter Schiff: The more US spies on the world the quicker dollar loses power

Germany is again having to deal with revelations that the US has been spying on it. A German intelligence agent was allegedly sending hundreds of top secret documents straight to Washington.

Jul 08 11:41

Keiser Report - Empire Of Fictional Cash

Jul 08 11:21

Dr. Ron Paul’s Prescription For Our Constitutional Republic

Dr. Paul said he said he works “on the assumption that you can save the republic but not in a conventional way.” He does not think the republic is going to be saved by “electing two or three or ten more members of Congress” who are committed to doing the right thing.

Jul 08 10:26

Seattle Lawyers and Citizens to Protest Commercial Code Uniform Law Changes that Help Banks Foreclose


Monday, July 7, 2014

Alina Virani, KingCast and Mortgage Movies Watch Seattle's Rolling Rebellion, Attorneys, Politicians and Citizens Square off Against the Banksters' Uniform Law "Reform" Conference.

Jul 08 10:09

City Council in Texas to Vote on Resolution: No Unaccompanied Illegal Migrant children Allowed in League City.

We can see cities pass similar resolutions in Texas and nationwide blocking these children being dumped in their cities having their resources drained bankrupting municipalities taking care of these children and not welcoming the Federal government in to house these children in their jurisdiction,

Jul 08 09:50

Why isn't Labour offering an alternative to Tory austerity?

For four years the Tories have attacked workers’ living standards and devastated public services with cuts and privatisation. They threaten to go even further in the next parliament.

As TUC general secretary Frances O’Grady put it at the Unite union policy conference earlier this month, “They want to finish what Margaret Thatcher started.”

And for trade union leaders such as O’Grady, the way to stop them is to make sure that Labour wins next year’s general election. She argued, “If the Tories win, the consequences will be horrific”.

Jul 08 09:36

Is your ATM safe? 'Invisible' ultra-thin skimmers that can steal your bank card details uncovered

They are a marvel of modern engineering - thin, virtually invisible, yet containing a computer and video camera.

Yet these tiny gadgets are causing major problems for banks - by 'skimming' credit card numbers and even recording PIN numbers.

The latest devices were revealed today as part of a new report from the European ATM Security Team (EAST), which warns they are already in use across Europe - with many of the fraudulent numbers being shipped to the US.

Jul 08 09:08

Russia approves creation of BRICS foreign exchange fund

The Russian Government signed a draft agreement on the creation of a $100 billion pool of currency reserves that the BRICS countries are forming to guard against financial shocks. According to the document, the countries’ dollar reserves will remain on the balance sheets of their central banks. However, these reserves can be made available at the request of one of the parties.

Webmaster's Commentary: 

2015 looks as though it will be a very nasty year for the US dollar.

Jul 08 09:02

Halbig v. Burwell: The next big Obamacare case

In brief, these cases claim the IRS has exceeded its statutory authority in authorizing tax credits and cost-sharing subsidies on federal exchanges because the PPACA only authorizes tax credits for the purchase of insurance on an exchange “established by the State under Section 1311.” Section 1311 instructs states to create exchanges. Federal exchanges are established under Section 1321 of the Act.

At one level these cases present a straightforward statutory interpretation question. The text is clear and does not contradict any other provisions in the Act. That would seem to settle the matter.

Jul 08 08:59

Feeling poorer through the power of inflation: Since January of 2000 college tuition is up 68 percent, new car costs are up 55 percent, your typical home is up 50 percent, and wages are simply not keeping up.

You have to love how the Federal Reserve downplays inflation when they are the primary source of it with other central bankers for this monetary phenomenon. They continue to play inflation down because it gives them the power to continue to use policies that seem to only aid their banking allies while making working Americans poorer by the day. Inflation has a slow eroding power that is not readily visible since it usually takes time to work through a system. Looking at a broader timeframe however it becomes readily apparent that inflation is hitting our system hard and most working families don’t need an advanced degree in economics to understand this. According to the CPI, the overall rate of inflation since January of 2000 has been 39 percent. The Fed prefers to use the PCE Deflator measure and this only has inflation running at a 31 percent rate.

Jul 08 08:41

Virtual Economy’s Phantom Job Gains are Based on Statistical Fraud

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

Jul 08 08:35

American Apparel, Creditor at Odds

Jul 08 08:32

The Deteriorating Economic Outlook

The third and final estimate (until the annual GDP revisions) of first quarter 2014 real GDP growth released June 25 by the US Bureau of Economic Analysis was a 2.9% contraction in GDP growth, a 5.5 percentage point difference from the January forecast of 2.6% growth. Apparently, the first quarter contraction was dismissed by those speculating in equities as weather related, as stock averages rose with the bad news.

Jul 08 08:29

The Looming Foreclosure Crisis: As the Fed Runs Out of Bullets, Local Governments Are Stepping In

Former Assistant Treasury Secretary Paul Craig Roberts wrote on June 25th that real US GDP growth for the first quarter of 2014 was a negative 2.9%, off by 5.5% from the positive 2.6% predicted by economists. If the second quarter also shows a decline, the US will officially be in recession. That means not only fiscal policy (government deficit spending) but monetary policy (unprecedented quantitative easing) will have failed. The Federal Reserve is out of bullets.

Or is it? Perhaps it is just aiming at the wrong target.

Jul 08 08:22

Currency Wars - Europe Seeks Alternative To 'Dollar Imperialism'

Today in Brussels the French Finance Minister, Michel Sapin, will start a debate with his EU counterparts on how the European Union can reduce its dependency on the U.S. dollar. Should the discussion find traction it may contribute to the ongoing monumental shift in global monetary economics with the gradual decline of the dollar as the global reserve currency.

Mr Sapin said in an interview with The Financial Times, “We [Europeans] are selling to ourselves in dollars, for instance when we sell planes. Is that necessary? I don’t think so. I think a rebalancing is possible and necessary, not just regarding the euro but also for the big currencies of the emerging countries, which account for more and more of global trade.”

The U.S. dollar has enjoyed reserve currency status for most of the past 70 years. This status confers enormous power to the dollar and allows the U.S. government to fund its trade deficits at very low cost.

Webmaster's Commentary: 

Today's meeting could put the US dollar into an industrial-strength world of hurt.

The DOW and NASDAC appear to be on a strong downward spiral at this point in the morning.

Jul 08 07:37

One Fifth Of Detroit To Be Bulldozed

We let the bums in DC destroy our country!

(Barbara Speed) Bad news for fans of ruin porn: Detroit is hoping to rid itself of its unique collection of dilapidated buildings and elegantly rubbish-strewn abandoned lots, and all within the next five years.

In May, a group ominously titled the “Detroit Blight Removal Task Force” released a report claiming that around 22 per cent of the city’s properties were “blighted” – vacant, damaged or considered dangerous. They also found that, of the 84,000 properties owned by public entities, just over 5,000 were occupied by squatters, making the city of Detroit, the report’s authors noted, “a very large and inadvertent landlord”.

The task force’s proposed solution is to demolish it all over the next five years and start again. Unfortunately, the plan doesn’t extend to rebuilding the properties – it’ll be down to private companies and developers to buy up the land and rebuild.

Jul 08 07:22

‘America using the dollar as a weapon’

The US mixes trade with politics using the dollar as a weapon in sanctions against Iran and Russia, trying to restrict these nations’ access to the US dollar, which creates mass imbalances, Chairman of the Bruges Group think tank, Robert Oulds, told RT.

Jul 08 06:53

How Recession-Proof Is Your Job Sector?

History suggests that previously sound assumptions about financial security and recession-proof sectors may not apply in the next recession.

Jul 08 05:45

Quayle: Big Changes Are Coming: “We Are Headed for a Crisis… of Biblical Proportions”

Well known author, commentator and radio host Steve Quayle says big changes are coming to the world. In an interview featuring Quayle on USA Watchdog, host Greg Hunter cites an apparent direct reference by International Monetary Fund head Christine Lagarde to numerology, a method of forecasting often associated with mysticism or the occult.

Jul 08 01:01

The almighty dollar is in peril as the global ‘de-dollarization’ trend accelerates

As the Obama administration continues to alienate almost everyone else around the entire planet, an increasing number of prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant in global trade

Jul 07 21:02

Obamacare faces another court threat — and this one could be fatal

The threats to Obamacare just keep on coming……

A case before the U.S. Court of Appeals in the District of Columbia may determine the Affordable Care Act was written in such a way that it prevents the federal government’s HealthCare.gov web site from offering subsidies.

Now such a ruling would have a long way to go before it actually would become enacted — and a lot of legal hoops would have to be jumped through — but such a finding could be a show-stopper for Obamacare. More than 5 million of the 8 million who signed up for Obamacare through the U.S. Department of Health and Human Services’ web site would thus not be eligible for tax credits. Most, presumably, would fall off the rolls of the insured.

Jul 07 20:08

Why Is Obama Encouraging Illegal Immigration When We Can’t Take Care Of Millions Of Our Own Citizens?

For years, the Obama administration has been making it abundantly clear that it is a friend of illegal immigrants. Border security is a joke, the federal government refuses to go after "sanctuary cities" even though they are breaking federal law, there is a website that instructs immigrants how to sign up for welfare programs once they arrive in the United States, and the Obama administration hasdistributed flyers that tell illegal immigrants that their immigration status will not be checked when they apply for food stamps. And Obama has even instructed officials to use "prosecutorial discretion" in deportation cases involving non-criminals. In other words, Obama has been flashing a huge green light to illegal immigrants, and so of course our borders were going to be inundated with them.

Jul 07 20:03

The Hubris of Trying to Eliminate Cash

People like hard currency and use it every day. It is a check on centralized power. It is private and peer-to-peer. And despite or because of that, some want to get rid of it.

Jul 07 19:26

Debt collectors manipulated your mood for decades before Facebook—they just never told you about it

Facebook’s efforts in 2012 to manipulate the emotions of its users for an academic study have left the kingpin social network struggling to explain its actions. Maybe part of their mistake was to publish. The 1960s debt collectors who conducted some very similar experiments were far less cavalier.

Jul 07 18:13

The Austerity Diaries: Creating a Budget...and Sticking to It

Lots of experts will give you excellent advice on how to create a budget. Creating a budget is actually pretty easy. You figure out what your expenses are, take this from your income, and then figure out what to do with the money you have left over.

Sticking to the budget...that's the tough part.

Jul 07 17:14

Why Paper is Doomed to Fail

Jul 07 16:48

ObamaCare Could Be On the Way Out Tomorrow, July 8th

the U.S. Court of Appeals for the District of Columbia Circuit could issue a decision in that case

Jul 07 16:35

Third immigrant plane lands in San Diego

Who needs buses?

US tax payers will pay to fly them elsewhere.

immigrants on the first plane were quarantined with active scabies and head lice.

The rest were released.

Jul 07 15:01

Paul Craig Roberts: "The US Economy's Phantom Jobs Gains Are A Fraud"

The decline in the employment-population ratio from 63% prior to the 2008 downturn to 59% today reflects the growth in discouraged workers

Jul 07 15:00

Banks Could Lose Monopoly On Gold Fix

Other industry groups such as miners may join process of setting crucial benchmark following allegations that process is open to rigging

Jul 07 14:58

Money Bubble Will Pop-John Rubino

Greg Hunter interview

Jul 07 14:08

Inflation: USA vs Japan

Jul 07 13:54

My Engelhard Bar Collection

Jul 07 13:43

Pro-Surveillance Mayor May Thwart City Council's Plan to Axe Red Light Cameras in Riverside, CA

The Riverside, CA City council recently recommended terminating the city's Photo Red Light Enforcement Program, but pro-Camera Mayor Rusty Bailey may veto the council's vote Tuesday night. Bailey has defended the cams by saying that they "help the police" and that people can get a "Payment plan" to help pay the nearly $600 fines. Contact Mayor Bailey now and let your thoughts about these big-brother revenue cameras be heard. The Council meeting is at 3pm on 7/8/14; the public can speak at the meeting.

Jul 07 13:36

The 17,000 Dow: Surging towards a disaster

The rise of Wall Street’s Dow Jones Industrial Average to an all-time high above 17,000 last week is another sign of the explosive contradictions building up within the American and global financial system.

Since hitting its low point of 6,547 on March 9, 2009 following the financial crash of September 2008, the Dow has climbed by more than 10,000 points, and is now over 250 percent what it was barely five years ago.

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